Wall Street surges on Brexit deal, Dow jumps above 27,000

2019-10-17 22:55:01 GMT (Economies.com)
Wall Street surges on Brexit deal, Dow jumps above 27,000

US stocks soared today, as investors grew more optimistic after the announcement of a draft deal for the UK departure from the European Union, in addition to robust quarterly business reports.

 

The online streaming giant "Netflix" revealed its quarterly business report, which showed strong revenues and subscribers growth, while IBM scored a lower-than-expected revenues during the third quarter.

 

The United Kingdom and the European Union agreed on a draft deal for an exit in orderly fashion, and will be put before the British parliament for a vote on Saturday .

 

British Prime Minister, Boris Johnson expressed that he's confident that that Brexit deadline will not be extended further if the deal was rejected, which raised concerns over a no-deal Brexit scenario.

 

The US economy showed today that the industrial production fell by 0.4% in September, and the jobless claims increased by 4,000 to 214,000 last week, while the building permits rose higher than forecasts to 1.39 million.

 

In the oil market, WTI rose by 1.1% and closed at $53.93 a barrel, with a session-high of $54.1 and a low of $52.6.

 

Brent rose by 0.8% to close at $59.91 a barrel, with a high of $60.04 and a low of $58.6.

 

To the stock market, Dow Jones gained 0.1% or 24 points, and settled at 27,026 points, with an intraday high of 27,112 and a low of 26,970.

 

Nasdaq also advanced by 0.3% or 32 points to 8,156, with a high of 8,183 and a low of 8,131.

 

S&P 500 rose by 0.2% or 8 points to and closed at 2,998, with a high of 3,008 and a low of 2,991.

 
 
 
  Symbol Last Change Chg.%
1.1052
0.0028
0.2581%
1.2901
0.0100
0.7816%
Tadawul
7924.19
-8.33
0.10%
16.953
0.150
0.893%
57.848
0.489
0.853%
63.36
1.07
1.72%
1466.935
8.655
0.594%
 
 
US
 
Europe
 
Asia